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NEED ASAP 30 MINS PLEASE !!! 5 points Olivia, Emma, and Ava are partners with capital balances of $50,000, $30,000, and $20,000, respectively. These three
NEED ASAP 30 MINS PLEASE
!!!
5 points Olivia, Emma, and Ava are partners with capital balances of $50,000, $30,000, and $20,000, respectively. These three partners share profits and losses equally. For an investment of $50,000 cash (paid to the business), Sophia will be admitted as a partner with a one-fourth interest in capital and profits. Based on this information, which of the following best justifies the amount of Sophia's investment? O A. Sophia will receive a bonus from the other partners upon her admission to the partnership. B. The book value of the partnership's net assets was less than the fair value immediately prior to Sophia's investment. C. With the amount contributed, Sophia will be personally liable only to the extent of her capital contribution, but does not have any management authority. O D.Sophia is apparently bringing goodwill into the partnership and her capital account will be credited for the appropriate amountStep by Step Solution
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